Question

The transactions completed by Revere Courier during December, the first month of fiscal year, were as follows:
Dec.1 Issued Check No.610 for December rent $4,200.
Dec. 2 Issued Invoice No. 940 to Clifford Co., $1,740.
Dec. 3 Received check for $4,800 from Ryan Co. in payment of account.
Dec. 5 Purchased a vehicle on account from Platinum Motors, $37,300.
Dec. 6 Purchased office equipment on account from Austin Computer Co., $4,500.
Dec. 6 Issued Invoice No. 941 to Ernesto Co.., $3,870.
Dec. 9 Issued Check No. 611 for fuel expense, $600.
Dec. 10 Received check from Sing Co . in payment of $4,040 invoice.
Dec. 10 Issued Check No. 612 for $330 to Office To Go Inc. in payment of invoice.
Dec. 10 Issued Invoice No. 942 to Joy Co., $1,970.
Dec. 11 Issued Check No. 613 for $3,090 to Essential Supply Co. in payment account.
Dec. 11 Issued Check No. 614 for $500 to Porter Co. in payment of account.
Dec 12 Received check from Clifford Co. in payment of $1,740 invoice of December 2.
Dec. 13 Issued Check No. 615 to Platinum Motors in payment of $37,300 balance of December 5.
Dec. 16 Issued Check No. 616 for $39,800 for cash purchase of a vehicle.
Dec. 16 Cash fees earned for December 1-16, $20,300.
Dec. 17 Issued Check No. 617 for miscellaneous administrative expense,, $500.
Dec. 18 Purchased maintenance supplies on account from Essential Supply Co., $1,750.
Dec. 19 Purchased the following on account from McClain Co.: maintenance supplies, $1,500; office supplies $375.
Dec. 20 Issued Check No 618 in payment of advertising expense, $1 780.
Dec. 20 Used $3,200 maintenance supplies to repair delivery vehicles.
Dec. 23 Purchased office supplies on account from Office To Go Inc., $400.
Dec. 24 Issued Invoice No. 943 to Sing Co. $6,100.
Dec. 24 Issued Check No. 619 to S. Holmes as a personal withdrawal, $3,000.
Dec. 25 Issued Invoice No. 944 to Ernesto Co., $5,530.
Dec. 25 Received check for $4,100 from Ryan Co. in payment of balance..
Dec. 26 Issued Check No.620 to Austin Computer Co. in payment of $4,500 invoice of December 6.
Dec. 30 Issued Check No. 621 for monthly salaries as follows: driver salaries, $16,900; office salaries, $7,100.
Dec.31 Cash fees earned for December 17-31,$18,900.
Dec. 31 Issued Check No. 622 payment for office supplies, $340.

Question 1.
Enter the following account balances in the general ledger as of December 1.
(11) Cash $161,680
(12) Account Receivable 12,940
(14) Maintenance Supplies 10,850
(15) Office Supplies 4,900
(16) Office Equipment 28,500
(17)Accum. Depr.- Office Equip. 6,900
(18) Vehicles 95,00
(19) Accum. Depr.- Vehicles 14,700
(21) Accounts Payable 3,920
(31) S. Holmes, Capital 289,250
(32) S. Holmes Drawing -
(41) Fees Earned   -
(51) Driver Salaries Expense -
(52) Maintenance Supplies Exp. -
(53) Fuel Expense -
(61) Office Salaries Expense -
(62) Rent Expense -
(63) Advertising Expense -
(64) Miscellaneous Adiministrative Expense -

Question 2 -
Journalize the transactions for December, using the following journals.Cash receipts journal, purchases journal with columns for Accounts Payable, Maintenance Supplies, Office Supplies, and OtherAccounts.Single column, revenue journal, cash payments journal and two- column general journal.Assume that the daily postings to the individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.

Question 3- Post the appropriate individual entries to the general ledger.

Question 4- Total each of the columns of special journals and post the appropriate totals to the general ledger; insert the account balances.

Question 5- Prepare a trial balance.

Answer 1

Cash Account						Rent Account
Date	Particulars	LF	Debit	Credit		Date	Particulars	LF	Debit	Credit
01-Dec	Openning Balance		161680			01-Dec			4200
31-Dec			53880
31-Dec				119940		Miscellaneous Account
31-Dec	Balance		95620			Date	Particulars	LF	Debit	Credit
						17-Dec			500
Accounts Receivable Account
Date	Particulars	LF	Debit	Credit		Maintenance Supplies Account
01-Dec	Openning Balance		12940			Date	Particulars	LF	Debit	Credit
31-Dec			19210			01-Dec	Openning Balance		10850
31-Dec				14680		30-Dec				3200
31-Dec	Balance		17470			31-Dec			3250
						31-Dec	Balance		10900
Office Supplies Account
Date	Particulars	LF	Debit	Credit		Accum.Dep. Office Equipment Account
01-Dec	Openning Balance		4900			Date	Particulars	LF	Debit	Credit
31-Dec			340			01-Dec	Openning Balance			6900
31-Dec	Balance		5240			31-Dec	Balance			6900
Office Equipment Account						Vehicles Account
Date	Particulars	LF	Debit	Credit		Date	Particulars	LF	Debit	Credit
01-Dec	Openning Balance		28500			01-Dec	Openning Balance		95900
06-Dec	Austin Computer		4500			05-Dec	Plantinum Motors		37300
31-Dec	Balance		33000			16-Dec			39800
						31-Dec	Balance		173000
Accounts Payable Account
Date	Particulars	LF	Debit	Credit		Accum.Dep. Vehicle Account
01-Dec	Openning Balance			3920		Date	Particulars	LF	Debit	Credit
31-Dec				45825		01-Dec	Openning Balance			14700
31-Dec			45720			31-Dec	Balance			14700
31-Dec	Balance			4025
						Accounts Capital Account
Drawing Account						Date	Particulars	LF	Debit	Credit
Date	Particulars	LF	Debit	Credit		01-Dec	Openning Balance			289500
24-Dec	To S Holmes		3000
31-Dec	Balance		3000			Driver Salaries Account
						Date	Particulars	LF	Debit	Credit
Revenue journal						30-Dec			16900
Date	Particulars	LF	Accounts Rec Dr. Fee Earned Cr.
02-Dec	Chifford		1740			Maintenanc Supplies Expenses Account
06-Dec	Ernesto		3870			Date	Particulars	LF	Debit	Credit
10-Dec	Joy		1970			20-Dec			3200
24-Dec	Sing		6100
25-Dec	Ernesto		5530			Salaries Account
31-Dec	Balance		19210			Date	Particulars	LF	Debit	Credit
Fee Earned Account						30-Dec			7100
Date	Particulars	LF	Debit	Credit
16-Dec			20300			Advertising Expenses Account
31-Dec			18900			Date	Particulars	LF	Debit	Credit
31-Dec			19210			20-Dec			1780
			58410

Trial Balance
Particulars	Debit	Credit
Cash	95620
Accounts Receivable	17470
Maintenance Supplies	10900
Office Supplies	6015
Office Equipment	33000
Vehicles	173000
Accumulated Depreciation Vehicles		14700
Accumulated Depreciation Office Equipment		6900
Capital		289250
Drawing	3000
Accounts Payable		4025
Rent Expenses	4200
Fuel Expenses	600
Fees Earned		58410
Driver Salaries	16900
Maintenance Supplies Expenses	3200
Advertising Expenses	1780
Miscellaneous Admin. Expenses	500
Office Salaries Expenses	7100
	373285	373285

Cash Payment Journal
Date	Account Debited	Purchase	Accounts Payable	Others
01-Dec	Rent Expenses			4200
09-Dec	Fuel Expenses			600
10-Dec	Office to Go Inc.		330
11-Dec	Essential Supply Co		3090
11-Dec	Porter		500
13-Dec	Plantinum Motors		37300
16-Dec	Vehicles			39800
17-Dec	Misc. Admin Expenses			500
20-Dec	Advertising Exp			1780
24-Dec	S. Homeless Drawing			3000
26-Dec	Austin Computer Co.		4500
30-Dec	Driver Salaries Exp			16900
30-Dec	Office Salaries Exp			7100
31-Dec	Office Supplies			340
		0	45720	74220

Purchase Journal
Date	Account Credited	LF	Maintenance Supplies Dr.	Office Supplies Dr.	Accounts Payable( Cr)
05-Dec	Plantinum Motors				37300
06-Dec	Austin Computer Co				4500
18-Dec	Essential Supply Co				1750
19-Dec	Mc Claim Co		1750	375	1875
23-Dec	Office to Go Inc		1500	400	400
31-Dec	Balance		3250	775	45825